The determinants of stock prices: a new evidence from 2003 to 2016
The question studied in this dissertation is about the determinants of stock prices in European area covering the period from 2003 to 2016. On the basis of daily stock price data, the dataset is established, which contains 124 companies listed on the three major index in Europe: FTSE 100 Index, DAX...
| Main Author: | |
|---|---|
| Format: | Dissertation (University of Nottingham only) |
| Language: | English |
| Published: |
2017
|
| Online Access: | https://eprints.nottingham.ac.uk/46373/ |
| _version_ | 1848797312529203200 |
|---|---|
| author | MENG, XIN |
| author_facet | MENG, XIN |
| author_sort | MENG, XIN |
| building | Nottingham Research Data Repository |
| collection | Online Access |
| description | The question studied in this dissertation is about the determinants of stock prices in European area covering the period from 2003 to 2016. On the basis of daily stock price data, the dataset is established, which contains 124 companies listed on the three major index in Europe: FTSE 100 Index, DAX Index, CAC 40 Index. It tests eight typical determinant variables: interest rates, exchange rates, dividend yields, price earnings ratios, long term price earnings ratios, book value, price to book ratios and capital expenditures.
The regression results show that interest rates, exchange rate, dividend yield, long term price earnings ratio and price to book ratios have a significant impact on the European companies’ stock prices. While the price earnings ratio, book value and capital expenditures can not be seen as a significant determinant of stock prices. In additon, the interest rates, exchange rates, long term price earnings ratio, book value, capital expenditures are negatively related to stock prices. On the contrary, dividend yield, price earnings ratio, price to book ratios are positively related to stock prices. |
| first_indexed | 2025-11-14T20:01:53Z |
| format | Dissertation (University of Nottingham only) |
| id | nottingham-46373 |
| institution | University of Nottingham Malaysia Campus |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-14T20:01:53Z |
| publishDate | 2017 |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | nottingham-463732018-04-17T15:04:29Z https://eprints.nottingham.ac.uk/46373/ The determinants of stock prices: a new evidence from 2003 to 2016 MENG, XIN The question studied in this dissertation is about the determinants of stock prices in European area covering the period from 2003 to 2016. On the basis of daily stock price data, the dataset is established, which contains 124 companies listed on the three major index in Europe: FTSE 100 Index, DAX Index, CAC 40 Index. It tests eight typical determinant variables: interest rates, exchange rates, dividend yields, price earnings ratios, long term price earnings ratios, book value, price to book ratios and capital expenditures. The regression results show that interest rates, exchange rate, dividend yield, long term price earnings ratio and price to book ratios have a significant impact on the European companies’ stock prices. While the price earnings ratio, book value and capital expenditures can not be seen as a significant determinant of stock prices. In additon, the interest rates, exchange rates, long term price earnings ratio, book value, capital expenditures are negatively related to stock prices. On the contrary, dividend yield, price earnings ratio, price to book ratios are positively related to stock prices. 2017-09-14 Dissertation (University of Nottingham only) NonPeerReviewed application/pdf en https://eprints.nottingham.ac.uk/46373/1/100.pdf MENG, XIN (2017) The determinants of stock prices: a new evidence from 2003 to 2016. [Dissertation (University of Nottingham only)] |
| spellingShingle | MENG, XIN The determinants of stock prices: a new evidence from 2003 to 2016 |
| title | The determinants of stock prices: a new evidence from 2003 to 2016 |
| title_full | The determinants of stock prices: a new evidence from 2003 to 2016 |
| title_fullStr | The determinants of stock prices: a new evidence from 2003 to 2016 |
| title_full_unstemmed | The determinants of stock prices: a new evidence from 2003 to 2016 |
| title_short | The determinants of stock prices: a new evidence from 2003 to 2016 |
| title_sort | determinants of stock prices: a new evidence from 2003 to 2016 |
| url | https://eprints.nottingham.ac.uk/46373/ |